Your chart speaks volume on how easy it is to make more money once you have money working for you. My first 100k was really hard to save up. However, once I saved the 100k, the next 100k was drastically easier.
For me first 100k was 10yrs of work and saving, 2nd 5yrs, 3rd 3yrs, been about 100k/yr ever since, currently closing in on 1MM. Quit the rat race and started a small biz at the 150k mark FWIW... Just make every financial decision with maximizing net worth as one of the priorities and resist lifestyle inflation. My asset mix is 36% real estate equity, 42% stock market, 22% private equity. Each has a distinct advantage. Don't underestimate the power of controlling your own time, something that is very difficult when on a salary or punching a time clock.
One thing I noticed once I got my hands on a bit of money is how much easier it is to make money when you have some. Having been poor my entire life, that was quite a game changer.
Life is like a game of chess. Masters love to think, come up with innovative, powerful ideas and execute plans with mastery. Seeing your plans come true is what makes it so rewarding. In the same manner, money can be loved not because of the money itself. That would be like a chess master loving chess because of the chess pieces. Instead, you love to have and manage money because of what you can do with it, the beautiful, artful life setups you have created in which you accomplished everything you wanted from nothing but your mental strength. That's why you don't like working, it's not that you dislike the job, it's that at work, someone has ultimate control over which move you make in the game of life, and that is no fun.
You have put it very succinctly a point I try to convey through any sort of job with a salary. The unpredictable aspect of choosing very different things to do as you please is extremely exciting. It should be for anyone that can use their time for weeks on end without getting bored.
Employers love to dangle that carrot and keep you on the hamster wheel. At the end of the day I think you made the right decision. It ultimately comes down to how happy you are as an individual. Money isn't everything, but it sure helps! 😀😀
This is so true. I had a boss who tried to dangle $$$. I eventually said F it and left. I don’t need a lot of material goods and I’m happier than ever.
I also exited the rat race several years ago and never looked back. Another thing i noticed, is by not working M-F, I am able to take vacations during weekdays where generally tickets , rooms, etc. are substantially cheaper. For ex. I live in NYC and go to Atlantic City fairly regularly. While employed, i could only go weekends which involved being stuck in traffic, room rates in the 200-400 range, long lines for restaurants, etc. Now when i go on weekdays, rooms + buffets ;-) are free, there's little to no traffic or lines for anything, and basically the resort is half empty to enjoy. Same argument for my recent trip to Vegas.
Yup. You can even travel slower and take flights that takes longer. It doesn't bother me much because I can take what I do with me anywhere. Knowing so, you purposely go at the 'right' times. =D
As usual I am inspired by your videos! I was laid off several months ago with a nice severance pkg, some stocks, supplemental unemployment insurance and my normal unemployment insurance.. I stumbled your video and pretty much following what you are doing, finding ways to make money and be self sustainable. Thanks for your great tips!!
As far as taking the leap goes, I'd happily walk away from my job if I had no consumer debt. I think that's key. There's all sorts of ways to reduce expenses and obtain necessities, but debt is a constant heavy drain on one's resources. Debt free = free for real
which leads me to this question: when you 'churn' credit cards, you're definitely not using them to carry balances, correct? I.e. you never carry long-term debt with compounding interest?
Man, this is so cool. Thanks for the inspiration, and congrats! New fan, and very impressed with your level of transparency and wisdom in terms of your frugal lifestyle and personal finances.
If you lead into dating with your networth and money, you better not ever call another pretty girl you want to bang and hang a gold digger. What you present first is what you choose to impress with, what you want her to respond to. A pretty girl wiggling her butt to $$$ is about all you'll get and what you deserve. You're cut from the same soiled cloth.
Will Lowe - So - - - ballers & athletes r never accused of rape? Weah u be at? In my youth, only one fat guy ever tried to approach me. The rest were pretty damn sexy. I refused to date any of them. They were too thuggish for my taste. And I don't trust jocks either. Once we (girls) grow up, our values change, but u still chase girls right? Hahaha. Are you grown up, yet?
Not sure if its the same case with engineering, but when I learned programming it taught me to think in a different way. Efficiency becomes a lot more important. When you have that lightbulb moment to apply the same concept to your finances, you wonder "Why wasn't I doing this years ago!?" I found your videos after I realized this and even though I've only just started this year, I've already seen a huge positive effect on my own net worth. Thank you.
Great job on the channel content. It's one of the many sources I use to sharpen my finance skills daily. I think a lot of your viewers are on their way to financial independence. I try to pick up on different nuances and tricks and apply them in my own life. It's the compounding of small things that you add to your life that make a difference when viewed over the long run.
I disagree. I never consider home as part of the net worth. Because you are living in that house, the only time you can claim that as part of the net worth when you cash it out. And when you cash out, you still need to live some where. But if you had a 2nd home and if you are renting or making money out of it, then I can consider it as part of net worth. But again, that's me.
BeatTheBush what does your net worth graph look like without claiming your home as an asset? I have a feeling that where you live affects that more that most people.
On Zillow ignore the Zestimate and " for sale" homes, but rather check for "sold" homes. That's where you see the real price people paid for the house. Compare homes close in area and size as your own. I would really like to increase my net worth too. Thanks for sharing!
Zestimate is a good indicator to gauge how much your house will sell. But with anything in a function economy, the price of a product is only worth what another person is willing to sell.
Everyone's net worth is climbing thanks to 10 years of near zero Fed interest rates as well as massive amounts of Quantitative Easing (Thanks Ben Bernake). Don't assume you will get these returns forever. Eventually these never before seen low interest rates will fade away. This is a once in a lifetime event. Don't get used to it.
Nope. I'm not assuming that. Thanks to Quantitative Easing and near zero interest rates the US dollar has devalued. And since all assets here are priced in dollars that means they have risen in dollar value dramatically over the last decade. Additionally since rates are low and bank savings accounts and CD pay nearly nothing in interest, conservative income seeking savers are forced into assets such as stocks, bonds and real estate to get decent income (forced demand which raises income producing asset prices). When interest rates rise, there will be a mass exodus of income seekers from those assets back into savings accounts and CDs. Additionally once interest rates start to rise and mortgage rates start to rise, home prices will come down. Rising interest rates will devalue assets of all types as it essentially strengthens the dollar. This means that it will take fewer dollars to buy the same asset. Speaking of assets, what's the scoop with you and Chirping Mermaid? :P
Oh, you're saying everything is up. Fair enough. So maybe I could make a video next time saying how networth went up even with the stock market and housing crashes? Lol, we will see, I am not optimistic.
Who knows? Maybe your net worth will continue to increase when the markets crash. If it does you definitely better make a video explaining exactly how you pulled that off! No reply on the Chirping Mermaid question huh?
I quit working back in 2001 but since I did not manage my time wisely and add to my investments started running out of money around 2008. Got myself situated and bought 2 properties in 2008 and went back to work semi full time. In September 2016 I figured out what I really need to sustain myself. I decided I would go back to work full time for 3 years and save all that money. Full time for me is only about 8-9 months a year. Working a regular job just slows you down. My income is no where what yours is with your degree but I live in a relatively cheap area and budget everything. My profession was in retail management and now truck driver which was my original career.
Ouch... needing to go back to work. That is a danger indeed if you rely on investments only with them positioned too aggressively in order to get enough gains. Ahh well... as long as you can get back on track. =D
I watched this 3x. It's comforting to have peers in the early f I journey. I feel empowered to apply for that new corporate position and jump out of distribution! Because if all goes to hell I am banking 100% of my salary anyway. I'm looking forward to see of this model will sustain me thru the next downturn. I feel like I am growing up with BTB
Yeah, I am graduating college and joining Apple this year. I wanted start right away on my road to my financial independence. Are there any books that you would recommend other than intelligent investor?
This is why teachers can come out ahead of engineers and business majors. We work 10 months out of the year, have ridiculous vacation breaks ( 1 week for Thanksgiving, 2 weeks for winter break, 1 week for "ski week" in February, and 1 week for spring break), can max out 403B and 457 accounts up to $38,000 a year of tax deferred earnings, and a generous pension. Who needs to retire early with those conditions?
All about how much you save. But not sure if a typical teach save more than myself and I was an Engineer. You got me there with the pension though, that's huge.
For my profession it is very early. Most practice into their 70’s. Lucky if you retire by 60. I will be 48. I do need to work on the spending part though and will have an advancement in the future as I move into a partnership. I probably could do it earlier, but hubby is locked in for another 15 years as that is when he is able to collect his pension.
Congratulations on the rise of you networth. I find nearly all.of your content very interesting. There is some I just can't grasp. But, that's just me. Cheers.
=D It is important to track it as simply doing it will increase your networth because it makes you more aware of what adds to it, and what takes away from it.
When you talked about your earning a little bit of money here and there- that's a really important thing to establish, that you've got a some skill that you can deploy to earn money. Making some money from your activities is a proof of concept that if you spent X more time doing that activity, you could earn roughly Y more dollars.
I suppose I could be a plumber since I can fix those too, lol. It's important to prove things out that is possible to make some money on your own before jumping.
I am rather risk averse, so I can relate to your caution to quit your job and begin side hustling before you had reliable and scalable alternative income sources.
How did you quit from your engineer job? Did you gave 2 weeks notice or did you sent and email directly to HR. ? Thank you for this video , I am happy four your success
Thanks for the video Francis! Can you make another video on how to prevent yourself from buying something you really wish to have (something you have been dreaming of) but you actually do not need it? Especially when during big sale events like Black Friday or Cyber Monday or Christmas and new year?
I actually do no deprive myself that way. I tend to buy things I really want even if I do not need it. But, you do have to weigh in the opportunity cost. Think of the time it costs you as in this video: th-cam.com/video/qDnQXjnpspg/w-d-xo.html
You have to consider yourself a little lucky because at least some amount of your net worth rode on the QE to infinity post 2008 financial crash. For those that had 25-50% of their net worth wiped out in 2008 and stayed on the sidelines for the past 8 years waiting for the "second leg down", that fear factor alone kept them from even the lowest risk investments. Many also went underwater on their mortgages. Meanwhile, bank bailouts and QE heroine injections benefitted those that entered the business world or market around 2009 like yourself. You got in at an historic low in the market at an age when you can afford to take on much more riskier investments. That being said, I still think a substantial portion of your net worth comes from your intelligence.
BeatTheBush Certainly not cheating but just be on the lookout for the next big crash. I think you are smart enough to know that the markets are overdue for a massive correction. Hopefully you make a video about this topic, but I still want another video with your lady friends 🙎or a how-to on your Boxster 🏎！
I think we're starting to see the Effects of QE now with historically low unemployment super high traffic congestion construction everywhere... and companies making record profits.... at some point inflation will take hold and talked about more often... I also have recently heard that a lot of tech job compensations are tied directly to stock performance... Meaning the stock market and the housing market are probably more tied than together more then ever before.....
I tend to be on the conservative side. I invest like I am much older in terms of risk, lol. Should I be? Maybe not. But I like being rock solid rather than sky rocketing performance. I mean, I do fine in networth gains without risking so much.
BeatTheBush I don’t think he’s suggesting you’re cheating. He’s suggesting that you’re attributing your luck to skill, which is a very common fallacy, because as humans, we prefer to give ourselves credit rather than admitting we got lucky. It also yields us more respect from peers. I work in prop trading so I witness this first hand with bonus payouts. I’m sure you see it a ton with your startup friends who won the equity lottery while playing “startup roulette” as well.
Good for you. I can never seem to get ahead. Just when I think I am going to get ahead--WHAM--another large expense. I must be an idiot, and have really bad luck. LIfe is so expensive, even after i have reduced my expenses to the bone. I am amazed that anyone can get ahead.
It starts off pretty slow as shown in the first 3-4 years. It was pretty linear and I never dreamt it would do this. Part of building your networth is to maneuver these large expense. To avoid them or to minimize them.
One other thing for those of us lucky enough to have a defined benefit pension. The value of the pension should be included in one's net worth calculations. For example, if you are getting $3,000 per month simply multiply 3,000 by 300 which would factor a 4% annual return. That would be $900K.
Great video. Glad to see so many positive comments. I hope your subscribers are listening and taking notes. Great advice! Limit expenses and maximize income streams. 😊😁
Are you getting that? It's a good way to test out your interest in this stuff as a start. Good going investing more, be careful with the way you invest though.
BeatTheBush I asked my girlfriend to possibly surprise me with a starter drone for XMAS and get my feet wet that way. Lol thanks for the tip I'm still learning!
Selling stuff on ebay that you already own is not sustainable for example. Sustainable might be not always there even for streams of income that seems sustainable, it might disappear. So it seems you have to constantly monitor things and adapt.
As income reduces relative to NW the CAGR will trend toward the rate of your investment growth. High CAGR is just due to low assets relative to income. In reality the actual amount you had to start matters a lot. Consider expressing this value on the left hand axis in terms of multiples of your salary or former salary.
What your seeing in your net worth chart seems pretty simple to me. Your net worth is so high that your contributions accounted for a very small percentage of the balance. Therefore, the value of the market is what really determines the form of the graph. This is a great place to be 😁
That's the optimistic way of thinking about it. But do note that it may or may not be true. Which ever way made it happen, it's hard to do when not working at a traditional job.
One thing that should be mentioned is that when you exit a software engineering job, you don't just lose current earnings, you lose earnings POTENTIAL in that particular field. If you stay out of the field for a couple years, the change in technologies, tools and toys, and your relative lack of familiarity with the prevailing ones, will make you virtually unemployable (without retraining yourself), except maybe for some management positions. Hell, even staying active in the field for 5 years while not keeping up with the latest buzzwords, makes it difficult to get new gigs. This can be interpreted in various ways - either in favor or against early retirement - and I suspect it's probably also true for other "knowledge worker" type of professions. The endless retraining is also extremely boring and frustrating (much unlike learning your first techs), which might offset the inevitable loss in earning potential.
Random question - do you invest in any any individual stocks or do you rather invest in index funds? Do you have any particular approach / mindset if investing in individual stocks?
Interesting. I did the CAGR calculation for myself and got 37% also. I decided to date it from the time I purchased my condo, and I selected the beginning value as the condo down payment. Since our net worth gains are dominated by real estate, I wonder what we find if we only look at bay area real estate price changes... I.e. how much of this is dominated by the year a person was able to purchase?
After I paid off my mortgage this year, I removed my property value from my net worth calculations. I did this because... I need a place to live, so unless I sell, the condo has no cash flow and isn't helping me with retirement income. Also, since it's such a high percentage of the net worth, its "movements" (which are all theoretical) totally dominated the net worth calculation and therefore obscure changes due to other factors which are much more closely tied to my effort and behavior.
Note how the value of property is only calculated once it is sold; not when it apriciates over time. If one would have counted the value over time there may have been a tiny, tiny, tiny decrease in the growth of money, which is important if you were someone low on money.
I don’t necessarily hate my job. I don’t love it either. It’s a means to an end. I’m frugal so it help my net worth a lot. I need to build a portfolio large enough to provide passive income that can replace my job. Once you start earning a few thousand a year from dividends that you reinvest with additional savings into more dividend paying stock, the income starts to compound that’s nice.
Google "portfolio visualizer" and "backtest asset class allocation" for a realistic expectation of how no-work-income net worth is going to develop over time (basically around 8% CAGR, though I've seen other such calculators report figures closer to 6% - it's quite sensitive regarding the period you choose for evaluation). Then, there's the much discussed and tested 4% withdrawal rule used for retirement planning (and there are solid reasons why it's a 4% and not 8% withdrawal rule). I also recall some very long-term historical studies (like going back to Middle Ages) which seemed to hint that there was something about 4% as the normal interest rate, perhaps linked to some natural growth processes. Never forget that endless exponential growth, at whatever rate, is virtually impossible, given the finite amount of non-renewable resources on our tiny planet; but perhaps we won't experience what happens when the limit is reached during our lifetime.
If you really want to live on 4% of your portfolio, I feel that even a 0.1% chance of failure is too much. Best to hedge it all by earning side income doing things that you do not feel like its work and at your own initiative.
Hi I was wondering what would be the withdrawal rate of your portfolio to support your expenses assuming you exclude your home and side incomes ? Many thanks.
A GROWING TREND: Many Americans & Astralians (a growing minority) opt for living on their own terms. Most are still poor, but practice living modestly. They all know that life is filled with uncertainty, but they devise a hustle or two and live. Clinging to a corporation, like a coala bear to a tree, doesn't prevent the tree from being cut down or prevent deforestation for that matter. Learn a bit. Plan something. Think over it. Act decisively. I got a very late start, so I can't recreate anything BTB has done, but I can learn, save, be frugal, get inspired and rec his channel.
It's probably not too good for the economy to live modestly since not buying excessive things does not support large companies that makes disposable goods.
BTB...what about health insurance coverage? I know you are young and healthy. I also have a good amount saved up from working for a fortune 500 company for 27 years before getting laid off. I now work part time. One of the reasons is for health insurance. Please talk about that in your video. Thank you and keep these coming.
Hi @BeatTheBush! I was wondering if you could make a video that shows us how to track our net worth, like the way you do! I would really like to make a graph so I could manage my spending and earnings better. Thanks!
Beatthebush, you should collaborate with engineered truth, aaron clarey, or entrepreneurs in cars. I fux with all of those channels heavily and they're all similar to yours.
BeatTheBush Yes!! I love it!! It’s so endearing and definitely you’re signature thing, so much so that when your videos come up on my TH-cam feed I automatically hear your voice in my head: “HelloeverybodythisisBeattheBush” and that helps to make the experience more “human,” more personal, and in fact, that alone has made me choose to click on your videos first before other videos in my feed several times. You’ve got great content here and are a continuing source of inspiration:)
Would be nice to see what your perspective is on how your net worth should be spread over different assets, like home, stocks, bonds, cash, crypto currencies, gold, pension funds, etc., maybe divided by the risk of depreciation. One side note on the spectacular growth of your net worth: Please do not forget that the 8 years of the analysed timespan you showed has so far been a period of continuously economical growth. I am sure the picture would look quite different if you would have experienced the internet bubble in 2000/2001 and the financial crisis in 2007/2008. Nevertheless I very much appreciate sharing your ideas and actions on TH-cam!
Sometimes you don't have a choice when you live in a more expensive area. We will see how this pans out if we hit another snag. I am positioned defensively and still able to make such gains.
2:03 looking at the y axis I can guess and say each interval represents a hundred thousand. What did you invest in to cause the spike upward at ~300k Mark?
I obfuscated the y axis already so the markers does not represent any round numbers. I didn't state the initial or final amounts either. What's more important is how you can make your own rate gains as good or better.
I include 6% realtor seller fees from the home/mortgage difference when calculating net worth...otherwise, it's artificially inflated. Hurts to do, but it's the real number. Nobody does that when they are bragging about how much their home worth has increased. Similar to those who are always boasting about stock gains, but are radio silent when they go down.
Also include the capital gains tax and factor in if you are single or married for the exemption. But this requires you to know the initial purchase price which varies per person. It's easier to quote the before tax and you just guestimate the after tax value depending on the situation.
How much of liquid assets do you recommend for a catastrophic event? That is my only concern; with a job, you have long term and short term disability coverage as well as health care coverage.
TIME!!! Thanks! Im an IT Professional earning above average income and managing a growing business at the same time, im so puzzled thinking if its really a good idea to quit now and start giving my full time to the business because I sometimes thought that my business growth is hindered by my current job yet theres this huge hesitation because i'll lose a significant amount of money if I quit but I know deep inside that if I quit soon, I can spend more time with the bus and strategize more, complete all the pending tasks Ive been rescheduling on my scrum board for weeks/months now. Can you give a piece of advice on this? What do you think is the best thing to do. P.S. My main priority is to be a full time entrepreneur, i've completed my master's degree and currently a part time Law School student. :P
Have your side business ear you enough to pay for you living expenses for at least 3 months in a row. That is the earliest time you can quit your job. Believe in yourself. Making enough on the side to do this is no easy feat.
Mourradoo he didn't take a leap of faith to have a solid career. He had a solid career and then went on autopilot. It's not confidence that did it for him, it's calculation.
Amanda Cheng he’s not going to share that. If he loses money, he won’t mention it. If he makes money, he’ll make a video bragging about it after the fact. That’s how this all works.
It would have been a lot more helpful if you broke it down by income source so we could see how much of that new free time you have actually turned into money. For example, if you stock or bitcoin holdings went up a lot, that would not be as impressive with respect to you as eBay revenue or something you definitely took action in. What I mean is that there wasn't much actionable advice here other than maybe "buy bitcoin".
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Your chart speaks volume on how easy it is to make more money once you have money working for you.
My first 100k was really hard to save up. However, once I saved the 100k, the next 100k was drastically easier.
I hope you are right. I'm right about $94k. It's taken me a long time to get to that.
For me first 100k was 10yrs of work and saving, 2nd 5yrs, 3rd 3yrs, been about 100k/yr ever since, currently closing in on 1MM. Quit the rat race and started a small biz at the 150k mark FWIW... Just make every financial decision with maximizing net worth as one of the priorities and resist lifestyle inflation. My asset mix is 36% real estate equity, 42% stock market, 22% private equity. Each has a distinct advantage. Don't underestimate the power of controlling your own time, something that is very difficult when on a salary or punching a time clock.
People need to learn from this guy..he's actually smart; def subscribed
Thanks for your support! =D
just did
He is the wave of the future. Total survival of the fittest - financial fitness. The future is here.
You said it bro
Ask him about the opportunity cost. He doesnt seem to know or seems to conveniently ignore.
In the same boat! I quit my 6 figure job and people thought I was crazy! My net worth is climbing - I’m also only 25 years old
You can always go back to work if needed.
Penny Budget how did you get a 6 figure job at 25? What field?
ryan tyler I was in sales/finance. I was making 6 figures from the time I was 21.
Great it's climbing! It likely means what ever you are doing is more than covering your expenses. =D
ryan tyler seeing is believing not hearing. That guy is bs....
One thing I noticed once I got my hands on a bit of money is how much easier it is to make money when you have some. Having been poor my entire life, that was quite a game changer.
Certainly if you have no money at all, it is harder to make some. For example, you need money to buy product upfront to resell.
Life is like a game of chess. Masters love to think, come up with innovative, powerful ideas and execute plans with mastery. Seeing your plans come true is what makes it so rewarding. In the same manner, money can be loved not because of the money itself. That would be like a chess master loving chess because of the chess pieces. Instead, you love to have and manage money because of what you can do with it, the beautiful, artful life setups you have created in which you accomplished everything you wanted from nothing but your mental strength. That's why you don't like working, it's not that you dislike the job, it's that at work, someone has ultimate control over which move you make in the game of life, and that is no fun.
You have put it very succinctly a point I try to convey through any sort of job with a salary. The unpredictable aspect of choosing very different things to do as you please is extremely exciting. It should be for anyone that can use their time for weeks on end without getting bored.
Sooo good!!
Employers love to dangle that carrot and keep you on the hamster wheel. At the end of the day I think you made the right decision. It ultimately comes down to how happy you are as an individual. Money isn't everything, but it sure helps! 😀😀
This is so true. I had a boss who tried to dangle $$$. I eventually said F it and left. I don’t need a lot of material goods and I’m happier than ever.
The carrot comes in various forms. It might be free lunches, health care, free tea/coffee, a warm office, money, and coworkers.
BeatTheBush I've interviewed at many tech companies with these perks. The unspoken trade off is longer hours.
Lol, yup.
Dani D Congrats.
I like how the plushies are always moved to a new position 😂
Would you believe me if they move themselves?
As much as I believe "network marketing" will make me rich.
Mandi Wong Yes! Give the lady a prize!
I've been a fan since you've had only 5000 subscribers. So proud of what your channel has become!
=D Thanks for being a subscriber all this time!
BeatTheBush > Dave Ramsey.
*Plus BTB is cooler, so there's that.
Zach BeatTheBush + Dave Ramsey > BeatTheBush
I am not taking up your entire TH-cam watch time? Lol. =D
Both are good. They have different audiences. Dave Ramsey is about helping folks get out of debt while BTB is about building wealth.
Beat Dave in the bush 😝
My god what is up with these little kids and their > games. Comparisons are for losers. Let everybody go their own path.
I also exited the rat race several years ago and never looked back. Another thing i noticed, is by not working M-F, I am able to take vacations during weekdays where generally tickets , rooms, etc. are substantially cheaper. For ex. I live in NYC and go to Atlantic City fairly regularly. While employed, i could only go weekends which involved being stuck in traffic, room rates in the 200-400 range, long lines for restaurants, etc. Now when i go on weekdays, rooms + buffets ;-) are free, there's little to no traffic or lines for anything, and basically the resort is half empty to enjoy. Same argument for my recent trip to Vegas.
Yup. You can even travel slower and take flights that takes longer. It doesn't bother me much because I can take what I do with me anywhere. Knowing so, you purposely go at the 'right' times. =D
I watched this video twice. This is your best video that binds everything you teach together; showing results based on numbers and strategy.
It sort of does bind everything together without going into detail about every little thing. =D
As usual I am inspired by your videos! I was laid off several months ago with a nice severance pkg, some stocks, supplemental unemployment insurance and my normal unemployment insurance.. I stumbled your video and pretty much following what you are doing, finding ways to make money and be self sustainable. Thanks for your great tips!!
Stephen Arias y did u get laid off xD
You're welcome!
As far as taking the leap goes, I'd happily walk away from my job if I had no consumer debt. I think that's key. There's all sorts of ways to reduce expenses and obtain necessities, but debt is a constant heavy drain on one's resources. Debt free = free for real
Consumer debt is the first step to freeing up more cash flow.
which leads me to this question: when you 'churn' credit cards, you're definitely not using them to carry balances, correct? I.e. you never carry long-term debt with compounding interest?
Avoid debt at all cost as per my perspective.
I am 27, already out of rat race, financially independent. Love this content
Man, this is so cool. Thanks for the inspiration, and congrats! New fan, and very impressed with your level of transparency and wisdom in terms of your frugal lifestyle and personal finances.
You're welcome! Ohhhh the frugal-ness. I can be embarrassed if I show the funny things I do.
Hello ladies, I'm currently unemployed, would you like to grab a drink sometimes?
UGH. you're not 6'5" with chiseled abs. RAAAAAAAAAAAAAAAAAAPEEEEEEEEEE!!!!!!
Lol...what prompted that?
If you lead into dating with your networth and money, you better not ever call another pretty girl you want to bang and hang a gold digger. What you present first is what you choose to impress with, what you want her to respond to.
A pretty girl wiggling her butt to $$$ is about all you'll get and what you deserve. You're cut from the same soiled cloth.
Will Lowe - So - - - ballers & athletes r never accused of rape? Weah u be at?
In my youth, only one fat guy ever tried to approach me. The rest were pretty damn sexy. I refused to date any of them. They were too thuggish for my taste. And I don't trust jocks either.
Once we (girls) grow up, our values change, but u still chase girls right? Hahaha. Are you grown up, yet?
Apt215 Melissa Brown lmao it’s clearly a joke omg.
Not sure if its the same case with engineering, but when I learned programming it taught me to think in a different way. Efficiency becomes a lot more important. When you have that lightbulb moment to apply the same concept to your finances, you wonder "Why wasn't I doing this years ago!?"
I found your videos after I realized this and even though I've only just started this year, I've already seen a huge positive effect on my own net worth.
Thank you.
Great job on the channel content. It's one of the many sources I use to sharpen my finance skills daily. I think a lot of your viewers are on their way to financial independence. I try to pick up on different nuances and tricks and apply them in my own life. It's the compounding of small things that you add to your life that make a difference when viewed over the long run.
And boy does the compound hit hard after a while. =D
I disagree. I never consider home as part of the net worth. Because you are living in that house, the only time you can claim that as part of the net worth when you cash it out. And when you cash out, you still need to live some where. But if you had a 2nd home and if you are renting or making money out of it, then I can consider it as part of net worth. But again, that's me.
You can very well remove that for your own calculations. There are two camps in this and I am not particular which one.
BeatTheBush what does your net worth graph look like without claiming your home as an asset? I have a feeling that where you live affects that more that most people.
I agree, I don't include value of the home unless I've sold. I also exclude the car as I use it and it's not sold.
Sophie Gist cars go down in value whereas the home goes up in value in long term.
On Zillow ignore the Zestimate and " for sale" homes, but rather check for "sold" homes. That's where you see the real price people paid for the house. Compare homes close in area and size as your own. I would really like to increase my net worth too. Thanks for sharing!
Ahh, too much work. I don't care too much either way. Good enough. I actually think Zestimate probably factors in the sold home price anyway.
Zestimate is a good indicator to gauge how much your house will sell. But with anything in a function economy, the price of a product is only worth what another person is willing to sell.
Everyone's net worth is climbing thanks to 10 years of near zero Fed interest rates as well as massive amounts of Quantitative Easing (Thanks Ben Bernake). Don't assume you will get these returns forever. Eventually these never before seen low interest rates will fade away. This is a once in a lifetime event. Don't get used to it.
You assume most of the gains is due to stock appreciation? Ahh well, think what you will. I've set things up to be ridiculously solid. RIDICULOUSLY.
Nope. I'm not assuming that. Thanks to Quantitative Easing and near zero interest rates the US dollar has devalued. And since all assets here are priced in dollars that means they have risen in dollar value dramatically over the last decade. Additionally since rates are low and bank savings accounts and CD pay nearly nothing in interest, conservative income seeking savers are forced into assets such as stocks, bonds and real estate to get decent income (forced demand which raises income producing asset prices). When interest rates rise, there will be a mass exodus of income seekers from those assets back into savings accounts and CDs. Additionally once interest rates start to rise and mortgage rates start to rise, home prices will come down. Rising interest rates will devalue assets of all types as it essentially strengthens the dollar. This means that it will take fewer dollars to buy the same asset. Speaking of assets, what's the scoop with you and Chirping Mermaid? :P
Oh, you're saying everything is up. Fair enough. So maybe I could make a video next time saying how networth went up even with the stock market and housing crashes? Lol, we will see, I am not optimistic.
Who knows? Maybe your net worth will continue to increase when the markets crash. If it does you definitely better make a video explaining exactly how you pulled that off! No reply on the Chirping Mermaid question huh?
Who is Chirping Mermaid and what is her question?
Do you miss your engineering work, not the income but the work itself? Or your coworkers?
Nope. I can do engineering work anytime I want. Coworkers come and go as I switch jobs so not too much on that either.
BeatTheBush Well said man !
You provided some excellent information and advice towards the end of the video. Thank you.
You're welcome!
The other thing is the stock market. It has over 15% return the past 2 years.
BTB: You forgot one thing: You are sharing your knowledge with us.
Oooohhh.. ha ha! Yes! Exit the rat race and sharing my knowledge as I go. =D
I quit working back in 2001 but since I did not manage my time wisely and add to my investments started running out of money around 2008. Got myself situated and bought 2 properties in 2008 and went back to work semi full time. In September 2016 I figured out what I really need to sustain myself. I decided I would go back to work full time for 3 years and save all that money. Full time for me is only about 8-9 months a year. Working a regular job just slows you down. My income is no where what yours is with your degree but I live in a relatively cheap area and budget everything. My profession was in retail management and now truck driver which was my original career.
Ouch... needing to go back to work. That is a danger indeed if you rely on investments only with them positioned too aggressively in order to get enough gains. Ahh well... as long as you can get back on track. =D
I watched this 3x. It's comforting to have peers in the early f I journey. I feel empowered to apply for that new corporate position and jump out of distribution! Because if all goes to hell I am banking 100% of my salary anyway. I'm looking forward to see of this model will sustain me thru the next downturn. I feel like I am growing up with BTB
Wow... 3x? There isn't any loss to applying right?
Really glad your net worth is increasing, really awesome and something for us all to strive for. btw what did you use to make that net worth chart?
Thank you. I do enjoy the positive tones of well wishes. =D I used excel. I use spreadsheet a lot to do all kinds of calculations.
Damn you are exactly what I was looking for. Thank you for the infos, you rock!!
Ha haha.. You were looking for me? Glad to share! =D
Yeah, I am graduating college and joining Apple this year. I wanted start right away on my road to my financial independence. Are there any books that you would recommend other than intelligent investor?
Why do people always want books? Video is where it's at.
Haha alright, Thanks sensei!
This is why teachers can come out ahead of engineers and business majors. We work 10 months out of the year, have ridiculous vacation breaks ( 1 week for Thanksgiving, 2 weeks for winter break, 1 week for "ski week" in February, and 1 week for spring break), can max out 403B and 457 accounts up to $38,000 a year of tax deferred earnings, and a generous pension. Who needs to retire early with those conditions?
All about how much you save. But not sure if a typical teach save more than myself and I was an Engineer. You got me there with the pension though, that's huge.
I'm 20 right now and I'm actively gunning to be in that position and constantly analyze my net work don't wanna be in the race too long
Thinking about your netwroth rather than material things really gets you in the right mindset to grow it.
I used wealthfront and mint to help track my daily networth. thanks for sharing all your saving tips with us.
You're welcome! =D
Love your videos! The way you live your life is inspiring!
Is it? I'm glad if it somehow helps you. :D
Best channel ever. Thank you sir for your insights.
=D
Congrats on you new found freedom! I will have mine in 15 years. I still really enjoy my job though, so don’t mind the wait...
Kira Kjear damn. Too long. U can be quicker than that.
Thank you! 15 years? Can that not be hurried up a bit based on how you spend, save, and advance in your career?
For my profession it is very early. Most practice into their 70’s. Lucky if you retire by 60. I will be 48. I do need to work on the spending part though and will have an advancement in the future as I move into a partnership. I probably could do it earlier, but hubby is locked in for another 15 years as that is when he is able to collect his pension.
I love that you change the plushies in every video, so cute! Also thank you for your amazing content!
=D They move themselves I say. You're welcome!
Great graphs...motivating!
=D
A great position to be in. I love it too :-)
=D
This is a motivational speech. You are teaching us the way out. I want to take the leap of faith in the future.
I certainly could not myself but plenty of people more brave than me have.
Congratulations on the rise of you networth. I find nearly all.of your content very interesting. There is some I just can't grasp. But, that's just me. Cheers.
Thanks! Hmmm... yeah... I guess I make videos all over the place, lol.
"do it in a sustainable manner" love your wisdom
Yup. eBaying old stuff is not sustainable.
Great video BTB. Inspired me to start my own net worth chart :)
=D It is important to track it as simply doing it will increase your networth because it makes you more aware of what adds to it, and what takes away from it.
When you talked about your earning a little bit of money here and there- that's a really important thing to establish, that you've got a some skill that you can deploy to earn money. Making some money from your activities is a proof of concept that if you spent X more time doing that activity, you could earn roughly Y more dollars.
I suppose I could be a plumber since I can fix those too, lol. It's important to prove things out that is possible to make some money on your own before jumping.
I am rather risk averse, so I can relate to your caution to quit your job and begin side hustling before you had reliable and scalable alternative income sources.
Yup. Hence side hustle first. Let it become sustainable first, then quit.
I'm currently researching if it's worth going from a bank to a credit union. Do you have a video on that? Great content, keep it up !
Generally a credit union gives better savings rates and benefits overall. YMMV.
Good information and pretty inspiring too!
:D
Last time I was this early, bitcoin was worth 10c.
Oh... only? Oh man.
ROFL
I almost spit out a sip of coffee, that caught me so off-guard lol.
How did you quit from your engineer job? Did you gave 2 weeks notice or did you sent and email directly to HR. ? Thank you for this video , I am happy four your success
2 weeks. Thanks! =D
Thanks for the video Francis! Can you make another video on how to prevent yourself from buying something you really wish to have (something you have been dreaming of) but you actually do not need it? Especially when during big sale events like Black Friday or Cyber Monday or Christmas and new year?
I actually do no deprive myself that way. I tend to buy things I really want even if I do not need it. But, you do have to weigh in the opportunity cost. Think of the time it costs you as in this video: th-cam.com/video/qDnQXjnpspg/w-d-xo.html
Beat the Bush On average how much a month can you make on a TH-cam video channel?
I just did that textnow phone thing. plus i used your referral link. So far so good.
Thanks for your support! I will check with them on this. =D
You have to consider yourself a little lucky because at least some amount of your net worth rode on the QE to infinity post 2008 financial crash. For those that had 25-50% of their net worth wiped out in 2008 and stayed on the sidelines for the past 8 years waiting for the "second leg down", that fear factor alone kept them from even the lowest risk investments. Many also went underwater on their mortgages. Meanwhile, bank bailouts and QE heroine injections benefitted those that entered the business world or market around 2009 like yourself. You got in at an historic low in the market at an age when you can afford to take on much more riskier investments. That being said, I still think a substantial portion of your net worth comes from your intelligence.
Yup. Luck certainly played a role. But is being luck cheating?
BeatTheBush Certainly not cheating but just be on the lookout for the next big crash. I think you are smart enough to know that the markets are overdue for a massive correction. Hopefully you make a video about this topic, but I still want another video with your lady friends 🙎or a how-to on your Boxster 🏎！
I think we're starting to see the Effects of QE now with historically low unemployment super high traffic congestion construction everywhere... and companies making record profits.... at some point inflation will take hold and talked about more often... I also have recently heard that a lot of tech job compensations are tied directly to stock performance... Meaning the stock market and the housing market are probably more tied than together more then ever before.....
I tend to be on the conservative side. I invest like I am much older in terms of risk, lol. Should I be? Maybe not. But I like being rock solid rather than sky rocketing performance. I mean, I do fine in networth gains without risking so much.
BeatTheBush I don’t think he’s suggesting you’re cheating. He’s suggesting that you’re attributing your luck to skill, which is a very common fallacy, because as humans, we prefer to give ourselves credit rather than admitting we got lucky. It also yields us more respect from peers. I work in prop trading so I witness this first hand with bonus payouts. I’m sure you see it a ton with your startup friends who won the equity lottery while playing “startup roulette” as well.
Good for you. I can never seem to get ahead. Just when I think I am going to get ahead--WHAM--another large expense. I must be an idiot, and have really bad luck. LIfe is so expensive, even after i have reduced my expenses to the bone. I am amazed that anyone can get ahead.
It starts off pretty slow as shown in the first 3-4 years. It was pretty linear and I never dreamt it would do this.
Part of building your networth is to maneuver these large expense. To avoid them or to minimize them.
One other thing for those of us lucky enough to have a defined benefit pension. The value of the pension should be included in one's net worth calculations. For example, if you are getting $3,000 per month simply multiply 3,000 by 300 which would factor a 4% annual return. That would be $900K.
Pension is such a foreign term for me. I have never even gone close to having one.
They are not very common these days.
This gives me hope for my future !
=D
Love your videos man!
Thanks! =D
Great video. Glad to see so many positive comments. I hope your subscribers are listening and taking notes. Great advice! Limit expenses and maximize income streams. 😊😁
A process I see very few people do. Many people would rather say, why don't you just buy a new one? LOL.
Interesting video. Tho I’ve never thought to before, I now want to start keeping monthly track of my net worth!
I've mentioned keeping track of networth before. The simple act of doing so will increase it, trust me.
Can you talk about rental homes? Like being a landlord, and if it's worth it.
I cant because I do not have any. I have purposely avoided them since I hate the idea of spending time to manage one.
love this channel!!!!!
=D
awesome video my man, keep investing in yourself and grinding, your videos are very motivating. screw the rat race lol
All it takes is a bit of effort everyday towards that goal.
You’re the hero we needed but do not deserve.
=D
Hey buddy, I love watching the stuff you make. Let me know if we can catch up, if you are living in SanJose.
Thanks
Ha ha... thanks for the offer but then I haven't really made any appearance anywhere just yet.
Thanks BTB, since I started watching your videos have started investing half my income! Btw thank you for the Drone recommendation!
Are you getting that? It's a good way to test out your interest in this stuff as a start. Good going investing more, be careful with the way you invest though.
BeatTheBush I asked my girlfriend to possibly surprise me with a starter drone for XMAS and get my feet wet that way. Lol thanks for the tip I'm still learning!
Great video as always BeatTheBush:). with no employer how are you getting insurance? that is one of my biggest fears of taking the leap.
Lol... pay full price.
I am assuming you buy your health insurance. maybe you can do a video going through the process and your advice for new people.
thanks for this final words: "...do it in a sustainable AND scalable way." i think here lies the success formula :)
Selling stuff on ebay that you already own is not sustainable for example. Sustainable might be not always there even for streams of income that seems sustainable, it might disappear. So it seems you have to constantly monitor things and adapt.
As income reduces relative to NW the CAGR will trend toward the rate of your investment growth. High CAGR is just due to low assets relative to income. In reality the actual amount you had to start matters a lot. Consider expressing this value on the left hand axis in terms of multiples of your salary or former salary.
Nope!
Do you mind sharing what are those two investments you briefly eluded to?
What your seeing in your net worth chart seems pretty simple to me. Your net worth is so high that your contributions accounted for a very small percentage of the balance. Therefore, the value of the market is what really determines the form of the graph. This is a great place to be 😁
That's the optimistic way of thinking about it. But do note that it may or may not be true. Which ever way made it happen, it's hard to do when not working at a traditional job.
Very informative! BTW, did you use Matlab for your graphs in the video?
Nope, it's excel.
Legit. This is awesome, congrats on seeing the massive explosion!
Thanks!
One thing that should be mentioned is that when you exit a software engineering job, you don't just lose current earnings, you lose earnings POTENTIAL in that particular field. If you stay out of the field for a couple years, the change in technologies, tools and toys, and your relative lack of familiarity with the prevailing ones, will make you virtually unemployable (without retraining yourself), except maybe for some management positions. Hell, even staying active in the field for 5 years while not keeping up with the latest buzzwords, makes it difficult to get new gigs.
This can be interpreted in various ways - either in favor or against early retirement - and I suspect it's probably also true for other "knowledge worker" type of professions. The endless retraining is also extremely boring and frustrating (much unlike learning your first techs), which might offset the inevitable loss in earning potential.
Yeah there is that coming from the clear minded person.
I am not ending employment to rot. In fact, the future is brighter than ever. Can you imagine?
you're so fun to watch!
Random question - do you invest in any any individual stocks or do you rather invest in index funds? Do you have any particular approach / mindset if investing in individual stocks?
I invest in individual stocks using value investing methods and generally pretty long term.
Interesting. I did the CAGR calculation for myself and got 37% also. I decided to date it from the time I purchased my condo, and I selected the beginning value as the condo down payment. Since our net worth gains are dominated by real estate, I wonder what we find if we only look at bay area real estate price changes... I.e. how much of this is dominated by the year a person was able to purchase?
After I paid off my mortgage this year, I removed my property value from my net worth calculations. I did this because... I need a place to live, so unless I sell, the condo has no cash flow and isn't helping me with retirement income. Also, since it's such a high percentage of the net worth, its "movements" (which are all theoretical) totally dominated the net worth calculation and therefore obscure changes due to other factors which are much more closely tied to my effort and behavior.
I bet by a lot. But it also depends how many years you get that increase. The longer the hard to pull off. I did 8 years.
Note how the value of property is only calculated once it is sold; not when it apriciates over time. If one would have counted the value over time there may have been a tiny, tiny, tiny decrease in the growth of money, which is important if you were someone low on money.
You can calculate the value of a property before it is sold by estimating comparable sales. Sort of valuing what something is worth.
happy to hear that you are a free person now!:)
Thanks! =D
You're awesome, thank you!
I don’t necessarily hate my job. I don’t love it either. It’s a means to an end. I’m frugal so it help my net worth a lot. I need to build a portfolio large enough to provide passive income that can replace my job. Once you start earning a few thousand a year from dividends that you reinvest with additional savings into more dividend paying stock, the income starts to compound that’s nice.
You can reduce the size of a large portfolio with side income not from dividends.
Google "portfolio visualizer" and "backtest asset class allocation" for a realistic expectation of how no-work-income net worth is going to develop over time (basically around 8% CAGR, though I've seen other such calculators report figures closer to 6% - it's quite sensitive regarding the period you choose for evaluation).
Then, there's the much discussed and tested 4% withdrawal rule used for retirement planning (and there are solid reasons why it's a 4% and not 8% withdrawal rule).
I also recall some very long-term historical studies (like going back to Middle Ages) which seemed to hint that there was something about 4% as the normal interest rate, perhaps linked to some natural growth processes. Never forget that endless exponential growth, at whatever rate, is virtually impossible, given the finite amount of non-renewable resources on our tiny planet; but perhaps we won't experience what happens when the limit is reached during our lifetime.
If you really want to live on 4% of your portfolio, I feel that even a 0.1% chance of failure is too much. Best to hedge it all by earning side income doing things that you do not feel like its work and at your own initiative.
Hi I was wondering what would be the withdrawal rate of your portfolio to support your expenses assuming you exclude your home and side incomes ? Many thanks.
None. I am not withdrawing anything as I live frugally and my side expenses completely supports my lifestyle.
A GROWING TREND: Many Americans & Astralians (a growing minority) opt for living on their own terms. Most are still poor, but practice living modestly.
They all know that life is filled with uncertainty, but they devise a hustle or two and live.
Clinging to a corporation, like a coala bear to a tree, doesn't prevent the tree from being cut down or prevent deforestation for that matter.
Learn a bit. Plan something. Think over it. Act decisively. I got a very late start, so I can't recreate anything BTB has done, but I can learn, save, be frugal, get inspired and rec his channel.
It's probably not too good for the economy to live modestly since not buying excessive things does not support large companies that makes disposable goods.
BeattheBush is the GOAT
what is GOAT?
greatest of all time
BTB...what about health insurance coverage? I know you are young and healthy. I also have a good amount saved up from working for a fortune 500 company for 27 years before getting laid off. I now work part time. One of the reasons is for health insurance. Please talk about that in your video. Thank you and keep these coming.
Pay full price, on your own. A passage of freedom.
Yeah, I'll have to cover this in more detail soon.
Good job dude! I'm proud! I aspire to achieve a net worth of $1,000,000 in 3 years.
Do-able if you work only on things worth your time.
Hi @BeatTheBush! I was wondering if you could make a video that shows us how to track our net worth, like the way you do! I would really like to make a graph so I could manage my spending and earnings better. Thanks!
Wow... multiple people are asking about this. I suppose I need to make a video on this and also supply the work sheet soon.
Thanks a lot! I will definitely use it :)
Beatthebush, you should collaborate with engineered truth, aaron clarey, or entrepreneurs in cars. I fux with all of those channels heavily and they're all similar to yours.
Ahhh nice! It's great there are more than one style on this. =D Although I haven't done many collabs.
BeatTheBush those channels have subscribers that would love your channel
Helloeverybodythisisbeatthebush
More than one person has said that. Do I really do that?
Yes but I like it! It's like your signature staple or brand when starting the video. Embrace it brotha!!!
BeatTheBush Yes!! I love it!! It’s so endearing and definitely you’re signature thing, so much so that when your videos come up on my TH-cam feed I automatically hear your voice in my head: “HelloeverybodythisisBeattheBush” and that helps to make the experience more “human,” more personal, and in fact, that alone has made me choose to click on your videos first before other videos in my feed several times. You’ve got great content here and are a continuing source of inspiration:)
Would be nice to see what your perspective is on how your net worth should be spread over different assets, like home, stocks, bonds, cash, crypto currencies, gold, pension funds, etc., maybe divided by the risk of depreciation.
One side note on the spectacular growth of your net worth: Please do not forget that the 8 years of the analysed timespan you showed has so far been a period of continuously economical growth. I am sure the picture would look quite different if you would have experienced the internet bubble in 2000/2001 and the financial crisis in 2007/2008.
Nevertheless I very much appreciate sharing your ideas and actions on TH-cam!
Sometimes you don't have a choice when you live in a more expensive area. We will see how this pans out if we hit another snag. I am positioned defensively and still able to make such gains.
2:03 looking at the y axis I can guess and say each interval represents a hundred thousand. What did you invest in to cause the spike upward at ~300k Mark?
I obfuscated the y axis already so the markers does not represent any round numbers. I didn't state the initial or final amounts either. What's more important is how you can make your own rate gains as good or better.
BeatTheBush hehehe 😂.
This is so awesome !!!
=D
I include 6% realtor seller fees from the home/mortgage difference when calculating net worth...otherwise, it's artificially inflated. Hurts to do, but it's the real number. Nobody does that when they are bragging about how much their home worth has increased. Similar to those who are always boasting about stock gains, but are radio silent when they go down.
Also include the capital gains tax and factor in if you are single or married for the exemption. But this requires you to know the initial purchase price which varies per person. It's easier to quote the before tax and you just guestimate the after tax value depending on the situation.
What was the noise at the minute 1.07??! XD
I'm 14 anytips? I want to retire around 30-40 range at least? (While being financially stable and secure.
Avoiding financial landmines is as important as making more money.
Mind sharing the two investments you’re working on?
Yes, I will be doing so in future videos once things settle.
How much of liquid assets do you recommend for a catastrophic event? That is my only concern; with a job, you have long term and short term disability coverage as well as health care coverage.
You can buy your own disability coverage. It appears to be pretty cheap.
TIME!!! Thanks! Im an IT Professional earning above average income and managing a growing business at the same time, im so puzzled thinking if its really a good idea to quit now and start giving my full time to the business because I sometimes thought that my business growth is hindered by my current job yet theres this huge hesitation because i'll lose a significant amount of money if I quit but I know deep inside that if I quit soon, I can spend more time with the bus and strategize more, complete all the pending tasks Ive been rescheduling on my scrum board for weeks/months now. Can you give a piece of advice on this? What do you think is the best thing to do. P.S. My main priority is to be a full time entrepreneur, i've completed my master's degree and currently a part time Law School student. :P
Have your side business ear you enough to pay for you living expenses for at least 3 months in a row. That is the earliest time you can quit your job. Believe in yourself. Making enough on the side to do this is no easy feat.
Awesome, as always!!! Thanks ☺️
It's hard to make that leap of faith when you finally have that solid career. You must have the confidence to bet on your self.
Mourradoo he didn't take a leap of faith to have a solid career. He had a solid career and then went on autopilot. It's not confidence that did it for him, it's calculation.
Exactly. My leap is really over a crack though. I'm just too chicken to take a huge leap.
BTB, can you talk about your investment ideas for 2018? By the way, love all your videos.
Amanda Cheng he’s not going to share that. If he loses money, he won’t mention it. If he makes money, he’ll make a video bragging about it after the fact. That’s how this all works.
Is your net worth exponential increase affected by a real estate market bubble?
Yes. It affects is positively. And I assume if it bursts, my networth will take a huge hit.
Are we really in a bubble in real estate??? Again??
It would have been a lot more helpful if you broke it down by income source so we could see how much of that new free time you have actually turned into money. For example, if you stock or bitcoin holdings went up a lot, that would not be as impressive with respect to you as eBay revenue or something you definitely took action in. What I mean is that there wasn't much actionable advice here other than maybe "buy bitcoin".
I did not do that by design. I prefer it that way. If you watch my previous bitcoin videos you will know that I invest very little in it.